Thursday, August 03, 2006

Apple May Erase Some Profit Over Stock Options

Apple Computer Inc. warned Thursday that it may have to revise its profits dating to 2002 in a worsening stock option scandal that has cast a harsh light on Silicon Valley's compensation practices.
Without providing specifics, the Cupertino, Calif., maker of Macintosh computer and iPod music players said it had uncovered enough evidence of mishandled stock options to raise doubts about the accuracy of financial statements dating to Sept. 29, 2002.

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